Hitachi Capital Announces Changes in Executive Officers

Hitachi Capital Corporation wishes to announce that it has decided to make the following changes in executive officers.

1.Retiring Executive Officer (as of 14th January, 2004)

New Position	Former Position	Name
—	Vice President and Executive Officer General Manager, Corporate Planning & Development Division	Kimio Yokoyama

Notes:

1.Mr. Kimio Yokoyama is scheduled to be appointed as Chairman of the Board of UNUM Japan Accident Insurance Co., Ltd as of 15th January, 2004.

2.Effective from 15th January, 2004, Mr. Yukio Ohki, Senior Corporate Officer and General Manager of the Shutoken Company, will concurrently serve as General Manager of the Corporate Planning & Development Division.

2.Promotions (as of 1st February, 2004)

New Position	Former Position	Name
Vice President and Executive Officer General Manager, Corporate Planning & Development Division and Shutoken Company	Senior Corporate Officer General Manager, Corporate Planning & Development Division and Shutoken Company	Yukio Ohki
Vice President and Executive Officer General Manager, Leasing Business Division	Senior Corporate Officer General Manager, Leasing Business Division	Hideyuki Iikura

Reference:

Effective from 1st February, 2004, Hitachi Capital’s team of executive officers will consist of the following:

President and Chief Executive Officer	Kaichi Murata
Vice President and Executive Officer General Manager, Corporate Planning & Development Division and Shutoken Company	Yukio Ohki
Vice President and Executive Officer General Manager, Leasing Business Division	Hideyuki Iikura
Senior Corporate Officer General Manager, Information System Division	Kazuo Takano
Senior Corporate Officer General Manager, Finance Division	Yukio Mori
Senior Corporate Officer General Manager, No.1 Retail Business Division and Auto Business Development Dept.	Masatsugu Hori
Senior Corporate Officer General Manager, No.2 Retail Business Division and Business Equipment Business Development Dept.	Kazuya Miura